I would get the barrels re blued for sure. Then see how well the rust on the frame will clean up with some oil and super fine steel wool. Case coloring the action should be the last thing to be done and is really only a cosmetic thing when push comes to shove.

The rust on be frame is not as bad looking as what is on the barrels. If you can get that under control, and blue the barrels, you will be in good shape.

Thanks all. Appreciate the input. Any recommendations on shops in CT/ RI/ MA that reblue?

You might try Tony Galazan's Connecticut Shotgun Mfg.

Malcolm Clark in East Haddam, CT does good case color and bluing work.

What happened to this gun? It looks as though someone may have put it up in a guncase with some moisture remaining on it after a hunt??

I'm afraid you're going to find once the surface rust on the barrels is removed, there is going to be a lot of pitting, which will require draw filing and striking to get it to a smooth enough condition prior to cold rust bluing it. If you're committed to getting the gun back into nice condition, I would suggest you pack it up and send it off to any one of several good people. No point in putting any effort into it at this point. The sad thing is the wood suggests it was in super condition before being forgotten.
I'm betting wet basement.

Also it looks like fresh rust fresh being in the last few years.
Good luck with the project
Rufus